If the Trustees refuse to pay out to the beneficiaries surely there would be case that the Trustees are failing in their duty. Or perhaps the Trustees can just sit on 700 million and continue in their position. Hardly equitable and if there is no remedy it would appear that the beneficiaries will be, essentially, disinherited. The Trust is Jersey based and has been extant for 20 years. There have been previous distributions amounting to about two and quarter million. Do you still believe there is no available remedy?
Thank you for your response. I am assuming that you have taken due regard of the duties of a Trustee to, at all times, consider the needs, circumstances and interests of all of the beneficiaries when exercising powers or discretions and that you have deemed that should they fail in those duties there is still no remedy?
The question that you do not seem able to answer is, if the Trustees do not perform their duties ie. to make themselves aware of the circumstances of the beneficiaries and in this case no Trustee has contacted the beneficiaries for 20 years, are they in breach of their duties as Trustees and is there a mechanism for having those Trustees replaced? I note that your area of expertise is immigration law, are you comfortable advising on such a specialist area, or would you consider that an advisor with greater experience of discretionary trusts would be a better option?